N Smith Electrical Limited - Accounts to registrar (filleted) - small 17.3
N Smith Electrical Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| N Smith Electrical Limited |
| Unaudited Financial Statements for the Year Ended 30 November 2017 |
| N Smith Electrical Limited (Registered number: 05220835) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| N Smith Electrical Limited |
| Company Information |
| for the Year Ended 30 November 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Atlantic House |
| 8 Bell Lane |
| Bellbrook Industrial Estate |
| Uckfield |
| East Sussex |
| TN22 1QL |
| N Smith Electrical Limited (Registered number: 05220835) |
| Balance Sheet |
| 30 November 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| N Smith Electrical Limited (Registered number: 05220835) |
| Balance Sheet - continued |
| 30 November 2017 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| N Smith Electrical Limited (Registered number: 05220835) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2017 |
| 1. | STATUTORY INFORMATION |
| N Smith Electrical Limited is a |
| The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year in which the financial statements have been prepared under FRS 102 and the |
| company has not been required to restate the comparative prior year amounts. There have been no |
| significant changes to the accounting policies other than amendments to certain wording to comply |
| with FRS 102. The transition has not had a material effect on the financial position or financial |
| performance of the company. |
| Turnover |
| Turnover represents amounts chargeable, net of value added tax, in respect of electrical services |
| supplied to customers. Revenue is recognised when the company obtains, through performance |
| under contract, the right to consideration for those services. |
| Goodwill |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after due regard |
| for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated |
| costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of |
| fixed and variable overheads. |
| N Smith Electrical Limited (Registered number: 05220835) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
| Account, except to the extent that it relates to items recognised in other comprehensive income or |
| directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
| at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that |
| are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is |
| probable that they will be recovered against the reversal of deferred tax liabilities or other future |
| taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company contributes to an employees' defined contribution pension scheme. Contributions |
| payable to the pension scheme are charged to profit or loss in the period to which they relate. |
| Government grants |
| Grants received of a revenue nature are credited to income so as to match them with the |
| expenditure to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| N Smith Electrical Limited (Registered number: 05220835) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 December 2016 |
| and 30 November 2017 |
| AMORTISATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 December 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| N Smith Electrical Limited (Registered number: 05220835) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under finance leases are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 December 2016 |
| and 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Finance leases (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Finance leases (see note 9) |
| N Smith Electrical Limited (Registered number: 05220835) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Finance leases |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Finance leases | 2,026 | 4,052 |
| Hire purchase and finance leases are secured upon the relevant asset. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2016 |
| Charge to Income Statement during year |
| Balance at 30 November 2017 |
| N Smith Electrical Limited (Registered number: 05220835) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2017 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Ordinary A | £1 | 100 | 100 |
| 200 | 200 |
| Ordinary and Ordinary A shares rank pari passu in all respects. |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended |
| 30 November 2017 and 30 November 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| This loan is interest free, unsecured and repayable on demand. |